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Demand Based Pricing: Described methods belong to the category of demand / market based pricing:-
1. What the Traffic can Bear' Pricing
2. Skimming Pricing
3. Penetration Pricing
The price elasticity of demand is taken into account in all of the demand based pricing methods, indirectly or directly. Price elasticity of demand refers to the relative sensitivity of demand for a product to changes in its value in other words how significantly the sales of the product are affected when price is changed. If decrease or increase in the price of the product results in significant increase or decrease the product is said to be price elastic conversely, if price change does not considerably affect the sales volume, a product is called to be price inelastic.
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The inquiry beside unfair trade practices can be initiated: (i) On receiving a objection from any consumer (ii) On receiving a objection from registered-consumer-association
how should shoppers'' stop develop its demand forecasts?
What is the meaning of marketing concept? Meaning: Marketing concept means that the achievement of organizational goals based on determining the wants and needs of the tar
how was the need for this product identified?
What is buyer analysis in personal selling process? Buyer analysis: Before approaching any customer, sales force must understand what products prospects bought within the
Explain the objectives of marketing research. Marketing research is usually conducted to achieve the following objectives: a) To identify the psychographics and demographics
what is right to safety
What is licensing in foreign marketing? Licensing: Licensing is explained as “the method of foreign operation whereby a firm within one country agrees to permit a company
State the term- Consumer goods Goods meant for personal consumption by households or ultimate consumers are known as consumer goods. This includes items such as toiletries,
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